They do have GPS, they just don't give people access to the data. Though I have thought it would be cool to interface GPS coordinates with something like Google Maps (delayed 5-10 minutes naturally), so you can see the path the package takes to get from the warehouse to your house/apartment.
But as pointed out, there are some obvious problems with the whole idea. Someone might be able to pick out patterns in the routes taken by trucks to rob them, they'd probably be flooded with calls by people wanting to know why the truck seems to just be sitting about a mile away, and all sorts of other fun stuff like that.
It does suck having to waste an entire day waiting for a package to show up. You hate to do anything for fear of missing them ringing the doorbell. Of course around here, UPS and FedEx drivers seem to have a real aversion to ringing the doorbell. When my Storm came, I made it down to the door in probably less than 30 seconds, nearly took a nasty spill when my socks hit the hardwood floor at the bottom of the staircase, and the driver was already getting set to fill out one of those door tags.
Not pertaining to the storm, but I have called my local FedEx station to find out what time a package would be delivered because I needed it for an important business meeting. They actually contacted the driver and they called me back and told me what time the guy would deliver the package. He actually came by my place earlier than what he originally stated. It was great.